Sterlite Technologies jumped 5.86% to Rs 129.25 after the company announced that it has emerged as L-1 bidder for a project floated by Bharat Sanchar Nigam (BSNL) worth Rs 1,625.36 crore.
The project involves development (creation, upgradation and operation & maintenance) of middle mile network of Bharat Net on design build operate and maintain (DBOM) model Package 13 in the state of Jammu & Kashmir.
The project includes a 3-year construction period, followed by a 10-year maintenance contract. The maintenance fee will be 5.5% of the capital expenditure (capex) annually for the first 5 years and 6.5% annually for the subsequent 5 years.
Sterlite Technologies is a leading global optical and digital solutions company providing advanced offerings to build 5G, rural, FTTx, enterprise and data centre networks.
The companys consolidated net loss to Rs 14 crore in Q2 FY25 from Rs 48 crore in Q1 FY25. Revenue increased by 16.01% sequentially to Rs 1,413 crore.
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